Rupee Hits Lifetime Low: The Indian Rupee hit a lifetime low level of 80.43 on Thursday after US Fed’s decision to hike interest rate by 75 basis points yet again. The domestic currency opened at a record low of 80.2850 per US dollar, down from the previous close of 79.97.
Indian Rupee news
Rupee to Appreciate on Weak Dollar
The Indian rupee snapped its four-day losing streak to close 29 paise higher against the US dollar on Tuesday, tracking a recovery in domestic equities and weakness in American currency overseas.
Rupee Crashes to New Record Closing Low of 74.06 Against US Dollar
Rupee Crashes to New Record Closing Low — The rupee today touched a life-time low of 74.23 (intra-day) after the Reserve Bank of India (RBI) unexpectedly kept the policy rate unchanged.
India May Give Freer Rein to Rupee After Making U.S. FX List
Gold Silver Reports (GSR) – India May Give Freer Rein to Rupee After Making U.S. FX List – India increased its purchases of foreign currency last year and has a “significant” trade surplus with the U.S., the Treasury noted in its semi-annual report on foreign-exchange practices released in Washington on Friday. The rupee has been the second-worst performing Asian currency this year, dropping 2.4 percent against the dollar, after strengthening 6.4 percent in 2017.